Zee Media raises ₹19.12 crore as Singapore-based FII ups stake to 3.33%; converts 3 crore warrants into equity shares
Zee Media Corporation raised ₹19.12 crore by allotting 3 crore equity shares to Sun India Opportunities Fund after the investor exercised conversion rights on warrants. This increases the company's share capital to ₹65.54 crore, with the stock rising 1% post-announcement.
Zee Media share price: Zee Media Corporation was in focus after the company raised ₹19.12 crore as a Singapore-based foreign investor converted warrants to equity shares.
The media firm has allotted 3 crore fully paid-up equity shares to Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund after the foreign portfolio investor (FPI) exercised conversion rights on an equivalent number of warrants issued on a preferential basis. The investor remitted ₹19.12 crore, representing the balance 75% of the warrant issue price of ₹8.50 per warrant, to complete the conversion.
“The Company has allotted 3,00,00,000 (Three Crore) Equity Shares on June 30, 2026 to Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund (a sub-fund of Sun Alpha Global VCC), pursuant to the exercise of conversion rights attached to 3,00,00,000 Warrants, out of the 5,00,00,000 Warrants held by the said Warrant Holder,” Zee Media said in an exchange filing.
The shares were allotted at ₹8.50 apiece, including a premium of ₹7.50 per share. Following the allotment, the investor will hold 3 crore equity shares, translating into a 3.33% stake on a fully diluted basis, assuming all outstanding warrants are converted.
The remaining 2 crore warrants held by the investor are eligible for conversion into equity shares within 18 months from the date of warrant allotment, i.e., June 25, 2026.
The newly allotted shares will rank pari passu with the existing equity shares and will be listed on the BSE and NSE, subject to the receipt of the requisite approvals from the stock exchanges.
Following the allotment, Zee Media's issued, subscribed and paid-up equity share capital has increased from ₹62.54 crore comprising 62.54 crore equity shares to ₹65.54 crore comprising 65.54 crore equity shares of face value ₹1 each.
Zee Media stock performance
The media stock rose 1% to ₹8.61 per share on BSE after the announcement.
It has risen 5% in 1 month and 23% in 3 months; however, the scrip is down around 4% in 6 months and over 40% in the last 1 year. The stock hit its 52-week high of ₹15.59 in July 2025 and its 52-week low of ₹6.70 in March 2026.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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